Business Income Tax Extension (Form 7004) Questions

What is the due date for filing my business income tax extension?

Is it a problem if I submit for a tax extension before the deadline but don’t hear back by the midnight IRS deadline?

How long does it take to hear back from the IRS on approval for a business tax extension (IRS Form 7004)?

Once my tax extension is approved by the IRS, when is my extended tax return due?

Do I have to use my Social Security Number when I e-file my business tax extension, or will I use my Tax-ID (EIN) number?

If I am a partner in an LLC or partnership, do I have to file both a personal and business tax extension?

What business income tax forms are extended and submitted by using FileLater?

If I am self-employed, which tax extension service do I choose?

My business is a single member LLC. Do I need to file for a personal or business tax extension?

Can I file a tax extension for a trust or an estate?

How do I determine if I owe a tax payment when I file my business income tax extension?

Do I need to file a business income tax extension for my state, too?

My business is a sole proprietorship. Should I file a personal or business tax extension?


What is the due date for filing my business income tax extension?
Corporations, including S-Corporations, operating on the calendar year for tax purposes must file for their tax extension by 11:59PM on the 15th day of the 3rd month following the close of their tax year (typically March 15). Partnerships, LLCs, and sole proprietorships have until 11:59PM on the due date of their personal income tax return (April 17 for the 2012 filing season) to file for their tax extension.


Is it a problem if I submit for a tax extension before the deadline but don’t hear back by the midnight IRS deadline?
Not at all! The IRS allows a few days for you to be officially approved for a tax extension. This means that you also generally have a few days after the deadline to fix any possible errors that might cause rejection.


How long does it take to hear back from the IRS on approval for a business tax extension (IRS Form 7004)?
You will generally hear back within 24 hours on the status of your business tax extension. Remember that as long as you submit your extension request before midnight on the IRS deadline, your application will be marked as submitted "on time."


Once my tax extension is approved by the IRS, when is my extended tax return due?
Corporations and S corporations operating on the calendar year for tax purposes are given an extended tax deadline of 6 months (generally to September 15). Partnerships are given an extended due date of 5 months (September 17, 2012 for 2011 tax returns).


Do I have to use my Social Security Number when I e-file my business tax extension, or will I use my Tax-ID (EIN) number?
For most business types, you will simply need your Tax-ID number (EIN) to file your business tax extension (IRS Tax Form 7004). If you are filing for a single member LLC business, you should file for a personal tax extension (IRS Tax Form 4868) and use your Social Security Number, rather than a Tax-ID (EIN).


If I am a partner in an LLC or partnership, do I have to file both a personal and business tax extension?
Yes. Because a multi-member LLC or a partnership has to file a separate tax return for the business, you will need to file tax extensions for both the business and well as a personal income tax extension.


What business income tax forms are extended and submitted by using FileLater?
FileLater services will electronically file the IRS Tax Form 7004 for your business income tax extension. This will give you a 5-month extension for almost all partnerships, multi-member LLCs, corporations, estates, trusts, and more. Our user-friendly application will help you choose the proper entity type. Here is a complete list of IRS tax forms FileLater can help you extend:

Don’t worry if you don’t know which tax form is associated with your business. We’ll figure that part out for you. FileLater can also help you extend your personal income tax extension. To learn more about personal income tax extensions, visit our Personal Income Tax Extensions site.


If I am self-employed, which tax extension service do I choose?
If you are self employed as a sole proprietor (filing a Schedule C), a contractor (Form 1099), or a single-member LLC, you only need to use FileLater’s personal extension service, which will extend both your personal and business income tax deadlines. If you have another business type, such as an s-Corporation, you will need to extend your business deadline using FileLater’s business tax extension service and filing Form 7004.


My business is a single member LLC. Do I need to file for a personal or business tax extension?
Single member LLCs only need to file for a personal tax extension (IRS Tax Form 4868), which will extend both the personal and business tax deadline, since your LLC is a "pass-through entity" and your business tax return is part of your 1040 personal tax return on Schedule C.


Can I file a tax extension for a trust or an estate?
Yes. FileLater’s business tax extension product includes IRS extensions for estates, trusts, and other entity types. You will file the same extension form (IRS Tax Form 7004) as other businesses, but should indicate your tax extension as a trust, estate, or other entity, as part of the online process which you will be walked through, step-by-step.


How do I determine if I owe a tax payment when I file my business income tax extension?
If you keep financial books for your company, you should be able to estimate your total taxes based on your net income multiplied by your current tax rate. Many of our customers simply use their tax rate from last year. Don’t forget to subtract any estimated tax payments that you made throughout the year from your taxes due.


Do I need to file a business income tax extension for my state, too?
State regulations on tax extensions vary from state to state. Please visit our State Tax Extensions guide for detailed instructions on each state.


My business is a sole proprietorship. Should I file a personal or business tax extension?
Sole proprietors have their business tax returns flow directly to their personal tax return as a Schedule C. Therefore, you should only submit a personal tax extension, which will extend the filing deadline for both your business as well as your personal income taxes.